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Dan Chan (SSN 334-63-3456) receives various Form 1099s during the year. He has no foreign accounts or trusts. He receives form 1099-INT and 1099-DIV as follows:

Amounts Reported on Form 1099-INT                                    Amount

Jack Corporation bonds                                                           $2,732

Blue Enterprises corporate bond                                              $450

State of Indiana municipal (tax

-exempt) bond                                                                        $1,650

Amounts Reported on Form 1099 –DIV                                 Amount

Mobil common stock                                                              $ 775

ABB Corporation dividend on preferred stock                   $180

GE dividend reinvested in common stock through

GE’s dividend reinvestment plan                                              $110

Required:

From the information provided above, prepare the Dan’s Schedule B (Form 1040), Interest and Ordinary Dividends.

Show your detailed calculation, or your work

Note:

Prepare Schedule B by hand.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M92021404

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